Naftogaz of Ukraine lends UAH 40 million to Chornomornaftogaz

SJSC Chornomornaftogaz received on October 30, 2012 a new tranche of 40 million UAH of the Naftogaz of Ukraine's interest-free loan to finance priority investment projects, the National Commission on Securities and Stock Market reported.

The loan was provided under Agreement 14/3042/12 of April 18, 2012 in the amount of 2,395.75 million UAH. The deadline for returning the full amount of the loan is April 17, 2013.

It aims to fund drilling effort, develop the functioning fields, upgrade production facilities and repay debts.

As reported, on October 29, Chornomornaftogaz received from Naftogaz a tranche of 10 million UAH.
NJSC Naftogaz of Ukraine (Kyiv) brings together the largest oil and gas mining companies of this country, and has a monopoly on the transit and storage of natural gas in underground deposits and on transportation of oil via pipelines through Ukraine.

SJSC Chornomornaftogaz (Simferopol) is the only company in Ukraine, which independently conducts exploration, development and operation of oil and gas fields in the Ukrainian sector of the Black and Azov Seas, preparation of hydrocarbons, their transportation and storage.

100% of Chornomornaftogaz are run by Naftogaz of Ukraine.

Adapted from Ukrinform